Toronto Newcomer Guide (2026)
Over 100,000 newcomers settle here annually. Here is what you need to know about banking, housing, transit, and community resources.
At a glance: Toronto
Province
Ontario (see Ontario guide →)
Population
2.9M (6.2M metro)
Top newcomer languages
Banking in Toronto
Toronto is home to the Canadian headquarters of all Big Six banks. Financial District (Bay Street) has the densest bank branch concentration. Many Scarborough and Brampton branches offer services in Punjabi, Tagalog, Mandarin, and Urdu.
Regardless of which bank you choose, we recommend also getting a KOHO card to start building Canadian credit immediately — no credit history required. This gives you a head start on the 12–18 month credit-building timeline you will need for a mortgage or car loan.
Housing costs in Toronto
Average rent in Toronto is among the highest in Canada: ~$2,500+/mo for a 1-bedroom in the city core, ~$1,800–$2,200 in Brampton/Mississauga. Many newcomers start in Scarborough, Brampton, or Mississauga for lower rents and community support.
Getting around Toronto
TTC (Toronto Transit Commission) operates buses, streetcars, and subway. Presto card works across TTC, GO Transit, and most regional transit systems. Low-income newcomers may qualify for TTC's Fair Pass program.
Jobs and employment in Toronto
Toronto has a diverse job market across finance, tech, healthcare, and hospitality. Settlement agencies like ACCES Employment, COSTI, and WoodGreen offer free job placement services for newcomers.
Government-funded settlement agencies offer free employment support, résumé help, and job placement for newcomers. Search for IRCC-funded settlement services in Toronto on the IRCC settlement services directory.